In the last quarter of 2011, the majority (51%) of the two prime transport fuels produced in Port Arthur and Houston area refineries went to export markets, including 73% of gasoline and 40% of diesel.
Energy Security
US Oil Boom “Increases Energy Vulnerability”
As the International Energy Agency warns that world oil markets face a “bumpy ride” in the months ahead, Barack Obama has being trying to defend his energy policies. His defence comes at a time when rising gas and energy production prices look increasingly likely to be become a key election issue in November, with his … Read More
The Hidden Danger of the Gas Boom
The hype surrounding the US gas industry continues to grow as America moves ever closer to its cherished dream of energy independence. Yesterday, Bloomberg reported that “the U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo … Read More
Keystone XL Does Not Enhance U.S. Energy Security
New report by Oil Change International and Natural Resources Defense Council finds Keystone will increase price of oil in the Midwest.
A Road Map to Renewal or Ruin?
The oil boys from Houston must be wriggling with delight after President Obama’s official jobs council called for an “all-in approach” to energy policy that includes expanded oil-and-gas drilling as well as more pipelines. “We should allow more access to oil, natural gas and coal opportunities on federal lands,” argued the President’s Council on Jobs … Read More
British LNG Imports at Risk in Gulf Crisis
More on the growing Iranian crisis. Brent crude is rising this morning due to worries over serious disruptions to the supply of crude after Iran warned its Arab neighbours of “consequences” if they raised oil output to replace Iranian loses through international sanctions. As the US has increased diplomatic pressure on countries that import Iranian … Read More
Keystone XL: playing the Iran card, ignoring the facts
The American Petroleum Institute, along with Senator Lugar (R-IN), has grasped the recent threat of a crisis in the Strait of Hormuz as the perfect opportunity to peddle its misinformation about Keystone XL and U.S. energy security. The Strait of Hormuz is a narrow channel of ocean between Iran and Oman through which some 17 … Read More
The API doesn’t just threaten Obama, it threatens us all.
 Yesterday’s presentation by American Petroleum Institute CEO Jack Gerard (right) was reported widely as the oil industry laying down the gauntlet for Obama to approve Keystone XL. The threat was indeed pretty clear. Gerard claimed President Obama would face “huge political consequences” if he denied the permit for the project. But the API’s agenda, which is clearly … Read More
Don’t Look Away Now
Love it or loath it as the voice of business, you can say one thing about the Financial Times, it normally covers the energy beat with a reasonable degree of accuracy. That’s why is was so disappointing to read the latest misguided comment piece by the paper’s Washington columnist Edward Luce, in an article “Look … Read More
Military Wisdom: Pentagon strategy doesn’t include Canadian oil
We have discussed a number of times on this blog how energy security cannot be attained through importing more oil from Canada or increasing domestic drilling. These false solutions give the impression something is being done to ease the burden of high oil prices on the nation but in reality make no difference. So it … Read More